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Nomad Foods (NYSE:NOMD) Price Target Cut to $20.00 by Analysts at Mizuho

Nomad Foods logo with Consumer Staples background

Key Points

  • Mizuho has reduced the price target for Nomad Foods (NYSE:NOMD) from $23.00 to $20.00, indicating a potential upside of 30.93% from the current stock price.
  • Other analysts, including Wall Street Zen and Barclays, have also downgraded Nomad Foods, with Barclays cutting its price objective to $18.00.
  • Nomad Foods reported earnings of $0.45 EPS for the last quarter, beating expectations, but its revenue was down 0.8% year-over-year.
  • Want stock alerts on Nomad Foods? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Nomad Foods (NYSE:NOMD - Get Free Report) had its target price dropped by investment analysts at Mizuho from $23.00 to $20.00 in a report released on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Mizuho's price target would indicate a potential upside of 33.16% from the stock's previous close.

Several other equities analysts have also weighed in on the stock. Barclays cut their price objective on shares of Nomad Foods from $20.00 to $18.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Wall Street Zen lowered shares of Nomad Foods from a "buy" rating to a "hold" rating in a report on Friday, May 9th.

View Our Latest Research Report on NOMD

Nomad Foods Stock Up 0.1%

Shares of Nomad Foods stock traded up $0.01 on Tuesday, hitting $15.02. 1,011,390 shares of the company traded hands, compared to its average volume of 1,105,977. The company has a 50-day moving average price of $17.00 and a 200 day moving average price of $18.19. The company has a quick ratio of 0.63, a current ratio of 1.02 and a debt-to-equity ratio of 0.81. Nomad Foods has a 12-month low of $14.72 and a 12-month high of $20.81. The company has a market cap of $2.30 billion, a PE ratio of 10.29 and a beta of 0.72.

Nomad Foods (NYSE:NOMD - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.45 earnings per share for the quarter, topping analysts' consensus estimates of $0.44 by $0.01. The firm had revenue of $879.27 million during the quarter, compared to analyst estimates of $762.81 million. Nomad Foods had a net margin of 6.93% and a return on equity of 10.26%. The business's revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.44 EPS. Sell-side analysts predict that Nomad Foods will post 1.82 earnings per share for the current year.

Institutional Trading of Nomad Foods

Hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC bought a new stake in shares of Nomad Foods during the 1st quarter worth approximately $530,000. Sequoia Financial Advisors LLC acquired a new position in Nomad Foods during the 1st quarter worth approximately $196,000. Brown Advisory Inc. increased its position in Nomad Foods by 0.8% during the 1st quarter. Brown Advisory Inc. now owns 8,442,222 shares of the company's stock worth $165,890,000 after purchasing an additional 66,060 shares in the last quarter. Vanguard Group Inc. increased its position in Nomad Foods by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 933,883 shares of the company's stock worth $15,671,000 after purchasing an additional 33,058 shares in the last quarter. Finally, Farther Finance Advisors LLC acquired a new position in Nomad Foods during the 1st quarter worth approximately $300,000. Institutional investors own 75.26% of the company's stock.

About Nomad Foods

(Get Free Report)

Nomad Foods Limited, together with its subsidiaries, manufactures, markets, and distributes a range of frozen food products in the United Kingdom and internationally. The company offers frozen fish products, including fish fingers, coated fish, and natural fish; ready-to-cook vegetable products, such as peas and spinach; and frozen poultry and meat products comprising nuggets, grills, and burgers.

Further Reading

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